13.5 million Indians managed to escape from the category of poor during the economic reforms in India, carried out under the leadership of the country’s Prime Minister Narendra Modi, the News18India resource reports.
The report says that in the 10 years since 2014, India’s economy has grown significantly. The country has gone from the tenth largest economy in the world to the fifth. This, in turn, improved the situation in other areas.
The publication highlights the fight against corruption, the spending of public funds and the welfare of the poor. For this last area, specific measures that the authorities have taken are given.
Thus, in 10 years, the volume of funds allocated by the central government to the states increased from 30 trillion rupees (~$360 billion at current exchange rates) to 100 trillion rupees (~$1.2 trillion ). In addition, the construction of housing for the poor has quadrupled: 3.6 trillion rupees (~$43 billion) have already been spent on this.
Additionally, farmers received a urea subsidy of 100 billion rupees (~$1.2 billion). This made it possible to sell a bag of this fertilizer to farmers not at the market price of 3,000 rupees (~$36), but 10 times cheaper.
Another source of assistance is Mudra Yojana, a government financial organization. Mudra is an acronym for Micro Units Development and Refinance Agency Ltd.
This organization, set up by Modi’s order on April 8, 2015, aimed to provide loans to small borrowers or non-corporate small business sectors at low rates. Thanks to this plan, as noted, eight million people were able to start their own businesses.
Source: Rossa Primavera
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